Rwanda Stock Exchange

At a glance

Key facts for investors using the Rwanda Stock Exchange.^1,2,3

Source: Rwanda Stock Exchange: Home (November 2026); Rwanda Stock Exchange: Equities Market (November 2026); Rwanda Stock Exchange: Home (November 2026)^1,2,3

What trades on the RSE

The RSE provides a regulated marketplace for buying, selling and listing financial instruments. Its products include company shares, corporate bonds and government securities. A share represents an ownership interest in a company; a bond is a debt instrument with terms set out by its issuer. These securities can differ in risk, income and duration, so read the relevant company information or bond prospectus before investing.^1,4

The exchange also publishes market information, including prices, trading volumes and indices. The Rwanda Shares Index (RSI), All Share Index (ALSI) and EAE20 provide different measures of market performance. An index movement is not the same as the return on an individual share and does not predict future performance.^1,3

Listed shares and market prices

The RSE equity-market page listed 10 shares in November 2026. The table shows the closing prices in the official market snapshot updated 9 November. These are dated prices, not live quotes; the exchange’s trading data can change from session to session.^2,3

RSE equity closing prices, 9 November 2026.³

Source: Rwanda Stock Exchange: Home (November 2026)³

In the same 9 November snapshot, the RSI stood at 244.16, the ALSI at 267.89 and the EAE20 at 99.35. The figures are a snapshot for that reporting date. Check current exchange information before making a decision, as both prices and index values can move.³

How to place a trade

All RSE trades are executed through licensed stockbrokers on the exchange’s trading platform. The CMA’s licensee register lists securities brokers, including FAIDA Securities Rwanda, African Alliance Rwanda Securities, CDH Capital Rwanda, MBEA Brokerage Services, BARAKA Capital, MO Capital, Button and BK Capital. Confirm that a firm is currently licensed before engaging it.^1,5

A practical sequence for a share order is:^1,5

• Choose a securities broker listed by the CMA and ask how to open a trading relationship and fund an order.
• Identify the company and ticker, then discuss the order instructions with the broker. Confirm any applicable charges, funding requirements and order conditions before proceeding.
• Submit the buy or sell instruction through the broker. The RSE states that trades are executed on its trading platform through licensed stockbrokers.
• Keep the trade confirmation and ask the broker for the expected settlement date and transaction status.

Source: Rwanda Stock Exchange: Home (November 2026); Capital Markets Authority: Licensees^1,5

Trading is typically open from 09:00 to 12:00 Kigali time on weekdays, excluding public holidays. The exchange says local and foreign individuals, institutions and companies can invest in listed securities. Trading hours do not guarantee that a particular share will trade or that an order will be matched.¹

Settlement and government bonds

The RSE’s standard settlement cycle is T+2: a trade is completed two business days after its trade date. Clearing and settlement take place through the CSD. Weekends and public holidays affect the count of business days, so ask the broker to confirm the settlement date for a particular transaction.¹

Government bonds are another way to invest through Rwanda’s capital market. A National Bank of Rwanda prospectus dated 30 December 2025 offered a 10-year government bond with a total value of FRW 10 billion. It set the issue date as 14 January 2026 and settlement as 16 January 2026. Secondary trading on the RSE was scheduled to begin on 20 January 2026. Those dates have passed; the prospectus is an example of the terms for that specific issue, not a current offer.⁴

That bond prospectus set minimum bids of FRW 50 million for competitive bids and FRW 100,000 for non-competitive bids. It also stated that interest on that issue was subject to 5% withholding tax. Investors interested in custody services were directed to contact Bank of Kigali or BPR Bank Rwanda. These were terms for that bond issue and should not be assumed to apply to every security or tax situation.⁴

For the bond offer described in the prospectus, applications were submitted to the National Bank of Rwanda through licensed commercial banks or capital-market intermediaries. The prospectus also specified that eligible residents and non-residents had opened a CSD account through a licensed commercial bank or capital-market intermediary. Read the terms of any new issue for its application route, eligibility, settlement and tax conditions.⁴

Market size and activity

The RSE snapshot updated 9 November 2026 reported market capitalisation of FRW 6,856,937,335,847. Market capitalisation measures the market value of listed securities; it is not cash available to investors and does not show how readily an individual share can be bought or sold. The same snapshot recorded equity turnover of FRW 9,309,500 for the reporting day. Consider recent trading activity as well as the quoted price when assessing a share.³

For comparison across periods, the CMA reported that in financial year 2024/25 RSE equity-market capitalisation rose 3.4% to FRW 3.84 trillion and the Rwanda Shares Index gained 14.4%. These annual figures describe that financial year, not the November 2026 snapshot. The different dates and measures matter: a market-capitalisation total and an index return are not interchangeable.^3,6

A July 2026 report by The New Times, carried by AllAfrica, described 151 listed instruments across equities, government securities and corporate bonds. That instrument count is not the same as the RSE’s 10 listed shares. The report also quoted the exchange’s chief executive as saying the value of the market was concentrated among around 10 listed companies.⁷

How companies raise capital

Companies can use the capital market to raise money through shares or debt instruments such as corporate bonds. An equity issue brings investors into the company’s ownership; a bond is borrowing under stated terms. In FY2024/25, the CMA approved three corporate bond issues worth FRW 46 billion, including Prime Energy’s green bond and the Development Bank of Rwanda’s sustainability-linked bond.⁶

The New Times reported in July 2026 that the RSE had begun targeted engagement with unlisted banks and insurers to explain listing and financing options. It also reported that the exchange was expanding its Enterprise Growth Market Segment, which prepares small and medium-sized enterprises to approach capital markets by strengthening governance and financial reporting. Prospective issuers can discuss the process with the exchange, regulators and advisers.⁷